J.P. Morgan Sued By Investors For Unauthorized Trading
Barry Steven Synder of Palm Beach Gardens Florida a stockbroker formerly registered with J.P. Morgan Securities LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $500,000.00 in damages supported by accusations that during the period in which Synder was employed by J.P. Morgan Securities (1) unauthorized over-the-counter equities trades were effected in the customers’ accounts and (2) the customers had been placed into an investment strategy involving the trading of over-the-counter equities when this strategy failed to be suitable given the customers’ risk tolerance or overall circumstances. FINRA Arbitration No. 19-02212 (Aug. 6, 2019).
This is not the first time that Synder has been subject of a dispute from one of his J.P. Morgan Securities customers. Specifically, FINRA Public Disclosure reveals that Synder is referenced in another customer initiated investment related arbitration claim in which the customer requested damages estimated to exceed $5,000.00 founded on allegations that the customer’s funds had been excessively concentrated in speculative and unsuitable stock positions; transactions executed by the stockbroker failed to be suitable; and trades were effected in the customer’s account in excessive amounts. FINRA Arbitration No. 18-03816 (Nov. 2, 2018).
Synder has also been terminated by at least one of his securities broker dealer employers, Credit Suisse Securities (USA) LLC, based upon accusations of Synder making false or misleading records concerning customer trades.
Since September 9, 2019, Synder has been registered with Snowden Account Services LLC.